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The Tokyo Stock Exchange (TSE) has previously announced that it had passed a resolution on a partial revision of the tick size structure at the board of directors meeting held on January 29, 2008, and that it would implement the revision in the summer of this year.
The TSE now announces that it has passed resolutions at the board of directors meeting held today amending the relevant rules and regulations and setting the implementation date for such as Tuesday, July 22, 2008, pending approval from the Commissioner of the Financial Services Agency.
In tandem with the partial revision of the tick size structure, the TSE will increase the number of orders that the Stock/CB Trading System is able to process per day from 23 million to 28 million.
[Outline of Amendments to Rules and Regulations]Revision of Tick Sizes for Stocks, etc
The TSE will revise tick sizes for stocks, etc. as follows.
- If the price per share is more than JPY 100,000 but less than or equal to 300,000:
JPY 100 (currently JPY 1,000)- If the price per share is more than JPY 1 million but less than or equal to 3 million:
JPY 1,000 (currently JPY 10,000)Revision of Tick Sizes for Securities Options Trading
The TSE will revise tick sizes for securities options trading as follows.
- If the daily price limit minimum for the underlying stock is more than JPY 100,000 but less than or equal to 300,000:
JPY 50 (currently JPY 500)- If the daily price limit minimum for the underlying stock is more than JPY 1 million but less than or equal to JPY 3 million:
JPY 500 (currently JPY 5,000)
